Survey of Accounting: E9-11 The following data were extracted from the income statement
Survey of Accounting E9-11 Stock Evaluation The next information had been extracted from the revenue assertion of Brecca Techniques Inc.: Present Yr Previous Yr Gross sales 9,700,000 7,175,000 Starting inventories 420,000 400,000 Value of products offered 5,820,000 four,305,000 Ending inventories 550,000 420,000 a. Decide for every year (1.) the stock turnover and (2) the variety of days' gross sales in stock. Spherical solutions to at least one decimal place. b. What conclusions could be drawn from these information regarding the inventories?